New data from Beome has revealed Brisbane`s most in demand share accommodation suburbs, with river access, close to the city and ‘vibrant communities’ dominating the list.
You may have heard of the “shared economy” and curious as to how you can use it to pay down the mortgage faster, use the additional funds to pay for a new bathroom renovation or to increase your personal wealth.
If you own a house or apartment, right now might be the most opportunistic time for renting out your property and increase your rental income in order to achieve your financial goals. Teaming up individuals to rent out entire properties offers an innovative solution to the changing property rental landscape.
Finding out the increase in your property rental yield, may get you excited to consider changing to a shared economy rental model. According to figures released by Beome the median gross rental can return $10,000 – $13,000 per annum per year per room, representing a gross return approximating $50,000 per annum for a property with four to five bedrooms.
Based on the median room rental prices from February 2019, we have put together a list of most valuable rooms by suburb, as well as the relative popularity, and the corresponding demand and supply disparity for those individuals currently seeking a room to rent.
Brisbane City, Spring Hill, Petrie Terrace (Postcode 4000) finished up on top spot as the most in demand suburb (based on total searches) nudging out Brisbane`s ever vibrant Fortitude Valley, Bowen Hills, Herston, Newstead (Postcode 4006).
With a high number of individuals looking for a room to rent with a low current supply, some suburbs such as New Farm, Teneriffe, Newstead (Postcode 4005) are seeing demand outstrip supply by as much as 11:1 per listing.
The top 20 list was a mostly inner-city affair, with 15 suburbs bordering the Brisbane river. In an effort to seek convenience, however, student sharers are renting closer to University with many southern suburbs such as St Lucia outpacing traditional share suburbs such as East Brisbane.
The founder of Beome, Nathaniel Simpson said the high cost of renting whole properties in many inner-city Brisbane suburbs meant many individuals are turning to share accommodation as the solution. The cost of rentals in Brisbane is the lowest they have been in years, but pensioners and young people may still be priced out of market.
At Beome Property Management we team up individuals so they can afford to rent out entire properties together whilst maintaining rental premiums for landlords.